By PAUL O’DONOGHUE, Senior Correspondent
THE CANADA national police has seized C$56 million ($40 million) in digital assets from the crypto exchange TradeOgre, in what the Royal Canadian Mounted Police (RCMP) said was the biggest ever crypto seizure in the country.
The RCMP’s Money Laundering Investigative Team began investigating TradeOgre in June 2024 after a tip from Europol. Officers found the exchange operated without registering as a money services business and failed to identify clients.
“Investigators have reason to believe that the majority of funds transacted on TradeOgre came from criminal sources,” the RCMP said in a statement.
“The main attraction of this type of platform, which doesn’t require users to identify themselves to make an account, is that it hides the source of funds.”
No charges have been filed. Police said the investigation remains open.
TradeOgre’s website now carries an RCMP banner reading: “This site and its cryptoassets have been seized by the RCMP.” The exchange last posted on X on May 28, 2025.
Canada biggest ever crypto seizure
RCMP Federal Policing – Eastern Region called the action “the largest cryptocurrency seizure in Canadian history.”
It said law enforcement recovered “an estimated sum of over 56 million dollars from the platform TradeOgre”.
The case marks the first time Canadian police dismantled a cryptocurrency exchange. Authorities said the operation highlights tougher enforcement against platforms that enable money laundering.
Investigators also found TradeOgre had not registered with the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC).
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